Bristol-Myers Squibb (BMY) FY2013 results: revenue $16.4 billion, down 7.0% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $16.4 billion for fiscal 2013, the year ended 31 December 2013, down 7.0% on the year before. Net income was $2.6 billion, up 30.8%, and diluted earnings per share $1.54. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$16.4 billion
-7.0% on the year
FY2007FY2013
Operating margin
17.6%
13.3% a year earlier
FY2007FY2013
Net income
$2.6 billion
+30.8% on the year
FY2007FY2013
Diluted EPS
$1.54
+32.8% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
16,385
17,621
21,244
-7.0%
Cost of revenue
4,619
4,610
5,598
+0.2%
Gross profit
11,766
13,011
15,646
-9.6%
Gross margin
71.8%
73.8%
73.6%
Research and development
3,731
3,904
3,839
-4.4%
Selling, general and administrative
4,939
4,220
4,203
+17.0%
Operating income
2,891
2,340
6,981
+23.5%
Operating margin
17.6%
13.3%
32.9%
Interest expense
199
182
145
+9.3%
Pre-tax income
2,891
2,340
6,981
+23.5%
Income tax
311
-161
1,721
Effective tax rate
10.8%
-6.9%
24.7%
Net income
2,563
1,960
3,709
+30.8%
Net margin
15.6%
11.1%
17.5%
Diluted EPS
$1.54
$1.16
$2.16
+32.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
3,545
6,941
4,840
-48.9%
Capital expenditure
537
548
367
-2.0%
Free cash flow
3,008
6,393
4,473
-52.9%
Free cash flow margin
18.4%
36.3%
21.1%
Cash from investing
-572
-6,727
-1,437
Cash from financing
-1,068
-4,333
-2,657
Depreciation and amortisation
763
681
628
+12.0%
Share-based compensation
191
154
161
+24.0%
Buybacks
433
2,403
1,221
-82.0%
Dividends paid
2,309
2,286
2,254
+1.0%
Dividend per share
$1.41
$1.37
$1.33
+2.9%
Diluted shares, weighted
1,662m
1,688m
1,717m
-1.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
15,154
13,623
15,956
+11.2%
Non-controlling interest
82.0
15.0
-89.0
+446.7%
Debt
8,340
7,394
5,491
+12.8%
Other liabilities
15,016
14,865
11,612
+1.0%
Total liabilities and equity
38,592
35,897
32,970
+7.5%
Fixed assets
4,579
5,333
4,521
-14.1%
Goodwill
7,096
7,635
5,586
-7.1%
Intangible assets
2,318
8,778
3,124
-73.6%
Investments
4,686
4,696
5,866
-0.2%
Cash and equivalents
3,586
1,656
5,776
+116.5%
Receivables
1,690
1,708
2,250
-1.1%
Inventory
1,498
1,657
1,384
-9.6%
Other assets
13,139
4,434
4,463
+196.3%
Total assets
38,592
35,897
32,970
+7.5%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.